Companies with vision will avoid the Great Resignation
https://arab.news/rgu47
Across the Kingdom, we are breathing a collective sigh of relief as the rewards of the government’s wise measures against the Covid-19 pandemic are leading to restrictions beginning to ease, giving the country a fresh feeling.
And what we are experiencing is quite literally a new feeling because the health crisis has changed us. How could it not? It disrupted lives and businesses globally without discrimination, without respecting borders. But it showed us something important — by working together with advice and guidelines, a united Saudi Arabia could get past this.
Our individual actions contributed to the good of the collective. When we were told to stay at home, we remained indoors, and our companies and education facilities swiftly implemented technology allowing us to work remotely. When the government successfully executed the rollout of its vaccination program, our population was willing and ready.
The pandemic taught us a very important lesson — not to take life for granted. It transformed the psyche of the human race, reminding us of what is important — our families, loved ones and our health.
But what does this collective shift in consciousness mean for the workplace?
Last May, US professor Anthony Klotz suggested it has resulted in what he called “the great resignation.” Some 4.4. million Americans — 3 percent of the country’s workforce — quit their jobs in September last year, according to the US Bureau of Labor Statistics, which came after 4 million US workers did the same last July. The reasons behind their decisions include striving for purpose, searching for better working conditions, better salaries, the pandemic, and opting to work remotely.
The Kingdom’s economy is flourishing, with the Ministry of Finance expecting a 2022 budget surplus of SR90 billion. And the country, which has 76 percent of its population under 35, saw unemployment hit pre-pandemic levels in the first quarter of this year. This arguably makes us one of the hottest job markets in the world.
So how, in the face of these changes, and facing intense competition, can businesses retain staff and avoid mass resignations?
Here at The Red Sea Development Company, our attrition rate in 2021 was 7 percent. Of course, we are striving to bring this number down, but overall, it is low. I put this low rate down to one fundamental concept — our company’s culture. We endeavor to meet the needs of people. Here’s how we do it.
At TRSDC we follow four core cultural value points — respect, responsibility, collaboration and passion. Our people have a strong alignment behind a clear vision — and our mission is meaningful.
Our project to develop a flagship tourism destination on the Red Sea coast was established as part of Saudi Arabia’s Vision 2030, to help diversify the Kingdom’s economy and boost the quality of life for Saudi Arabians. It is our mission to ensure that this area of natural beauty is protected and enhanced for future generations. This is underpinned by a commitment to deliver a 30 percent net conservation benefit by 2040.
Through the creation of our destinations, we are also driving education — our various vocational programs ensure the communities in the areas surrounding our projects are prepared for coming jobs in tourism. The Red Sea destination and AMAALA, another luxury resort along the northwestern Red Sea coastline, are expected to create up to 120,000 jobs combined by 2030.
The destinations will also contribute as much as SR33 billion to the nation’s gross national product. Whether it be environmental, social, educational or career driven, our people can find something that meets their own priorities.
Other elements which contribute to a low attrition rate for any company are good working conditions, strong health and educational benefits and of course a competitive salary. The pandemic also sharply brought into focus the need to concentrate on employee mental health which we responded to with a wellness program, called Haya.
The care of our people extends to our on-site workforce. We have some 10,000 workers living on-site today, in our construction village, completed in 2020. This modern and sustainably built community, consisting of 12 landscaped neighborhoods, providing best-in-class housing, food and facilities. It is equipped with round-the-clock wi-fi, and sports facilities such as cricket pitches, gyms and basketball courts.
We are also building two additional villages to provide accommodation for 14,000 employees who will eventually operate The Red Sea and a further 20,000 staff at AMAALA. Once again, the focus is on the creation of communities, where employees live and breathe our sustainable ethos, while enjoying the same beautiful surroundings as our guests.
We look for people who take ownership, those are the kind of people who do well in this type of organization. We are highly competitive about our projects, rather than personal success. We believe the success of our work will contribute toward the Kingdom’s priorities. There is a level of urgency and a healthy pressure that people put on themselves because we find meaning and purpose in our overarching business objective
The people employed at TRSDC work hard because they are motivated by delivering on the strategic objectives of creating beautiful destinations and contributing to the positive change of a country — as well as the upskilling of young Saudis who would never have had this opportunity before. I believe it is this purpose that can help companies overcome the challenge of the great resignation. It is the job of company leadership to create an environment where employees feel valued and believe in the vision of their enterprise.
The more you invest in your employees the more they will invest in your company. Assess and consider your company’s culture in the same way you would consider any other investment in your business. The more care and attention you put in, the greater the return you can expect.
• Ahmad G. Darwish is the chief administrative officer at The Red Sea Development Co. and AMAALA
